{
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new blockchain solution could prevent majority of cryptocurrency hacks and scams

A new blockchain security solution could prevent over 99% of cryptocurrency hacks and scams, which cost the industry $2.3 billion in 2024. By simulating and validating transactions offchain, this approach addresses vulnerabilities in centralized exchanges and could have detected the $230 million WazirX hack days before it occurred. Phishing scams remain a significant threat, accounting for $1 billion in losses across 296 incidents this year.
Cointelegraph
United States Dollar WazirX USD Michael Pearl
Technology & Innovation, Market Report
13:08 10.01.2025

crypto hacks surge to 2.3 billion in 2024 driven by access breaches

In 2024, cryptocurrency hackers stole over $2.3 billion across 165 incidents, marking a 40% increase from the previous year, primarily due to access control breaches. These vulnerabilities accounted for $1.9 billion, while smart contract exploits and address poisoning scams followed. Experts urge the industry to enhance security practices to mitigate future risks, especially as North Korean hackers may target Bitcoin ETFs in 2025.
Cointelegraph
United States Dollar Deddy Lavid Michael Pearl
Finance & Economy, Market Report
10:48 24.12.2024
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